Go Airlines puts IPO plan on hold amid raging third wave

Mumbai: Nusli Wadia Group has temporarily put on hold a ₹3,600-crore initial public offering (IPO) plan of its budget airline Go Airlines considering the third wave of Covid-19 and its impact on travel business, officials close to the group said. The company is evaluating the pandemic situation led by the Omicron variant and is in … Read more

Sebi’s new IPO rules: A throwback to the CCI days

Mumbai: As investment bankers and fund managers were preparing to open the champagne bottle after a bumper year for initial public offerings, the Securities & Exchange Board of India (Sebi) chairman fired a warning shot that tempered their celebrations. Ajay Tyagi followed up his December 22 speech on worries about the happenings in the primary … Read more

IPO Market 2021: Fundraising hits record Rs 1 lakh crore mark as 63 issues hit Street

NEW DELHI: Fundraising by India Inc via initial public offer (IPO) crossed the Rs 1 lakh crore mark in 2021 in a first for any calendar year. Data showed a total of 63 Indian corporates raised an all-time high of Rs 1,18,704 crore through mainboard IPOs in 2021. Including the SME IPOs, the fund mobilisation … Read more

IPO Mantra: Handy evaluation guide for IPOs of smaller companies

One prominent feature of the current equity bull run is the debut by smaller companies through richly-priced IPOs. Often, the nature, size and scale of their businesses seem inadequate to justify the asking valuations. It then becomes necessary for investors to understand the nature of their activities and the scope for future growth. ETIG highlights … Read more

Star Health raises Rs 3,217 cr from anchor investors ahead of IPO

New Delhi: Star Health and Allied Insurance Company on Monday said it has raised a little over Rs 3,217 crore from anchor investors ahead of its IPO on Tuesday. The company has decided to allocate a total of 3,57,45,901 equity shares to 62 anchor investors at Rs 900 apiece, aggregating to Rs 3,217.13 crore, according … Read more

HashiCorp aiming for $13 billion valuation in IPO, according to updated prospectus

HashiCorp employees at the start-up’s HashiConf conference in San Francisco in October 2018. HashiCorp Cloud software vendor HashiCorp updated its IPO prospectus on Monday, disclosing plans to sell shares at a price that would value the company at up to $13 billion. HashiCorp, which was last valued in the private market at $5.1 billion in 2020, is … Read more

A Jhunjhunwala bet that’s up 5x in 2.5 years

Mumbai: Billionaire investors Rekha and Rakesh Jhunjhunwala‘s investment in IPO-bound Star Health and Allied Insurance jumped almost fivefold in two-and-a-half years to ₹8,500 crore, based on the upper end of the price band. Star Health is set to become the second-biggest stock in their portfolio of listed companies after Titan, with nearly 25% of the … Read more

Post-Covid increase in insurance awareness to benefit Star Health

Mumbai: Star Health and Allied Insurance Co will become the first pure-play health insurance company to list on the local stock exchanges, as it prepares to launch its ₹7,249-crore initial public offering next week. The IPO includes an issue of fresh shares worth up to ₹2,000 crore and an offer for sale of shares worth … Read more

Analysts advise against subscribing to Kubota’s Escorts open offer

Mumbai: Analysts have advised investors against tendering their entire ownership in the open offer at as they believe Kubota‘s takeover will substantially improve Escorts’ medium-term growth outlook, potentially triggering a sharp re-rating in the stock. After completion of this transaction, Kubota Agricultural Machinery India and Escorts Kubota India will be merged with Escorts, and this … Read more

Star Health’s Rs 7,500 cr IPO likely to open by Nov-end

Mumbai: Star Health and Allied Insurance Company plans to launch its Rs 7,500-crore initial public offering during the last week of November, according to investment banking sources. The IPO will be the third-largest in 2021 after Paytm and , which raised Rs 18,300 crore and Rs 9,375 crore, respectively. The company and bankers are inclined … Read more